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I think it will be mainly sidewards movement until we get a bit closer to spud.

For those who missed it.

https://www.valuethemarkets.com/2019/05/16/touchstone-exploration-online-presentation-paul-baay-discusses-q1-results-and-upcoming-drilling-of-ortoire-block-txp/

I agree on more licences.
He kept going over the relationship between us and Heritage.
Each time he did he sounded very excited.
I cant see what else it would be except new licences.
Just cant wait for news flow to start. Only 4-5 weeks to wait.

Come on, cut me some slack, it was 6.17am ha ha

Sorry didn't mean to copy all.
Didn't know about it opening 3 more prospects at coho.
If we can prove it as a profitable gas play with no SPT then happy days :)

Gizzy, copying this you posted on Advfn. It's a good read.


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Touchstone Exploration Share Chat - TXP
Current Price
16.75p

+0.00p

+0.00%

Bid Price Offer Price
16.00p 17.50p
High Price Low Price Open Price
16.75p 16.625p 16.75p
Shares Traded Last Trade Market Cap (m)
269,362 10:35:06 26.92

Touchstone Exploration Share Discussion Threads
Next Page
Date Subject
16/5/2019
04:18 gizzy87: Sprangle.. Heavy lobbying going on from All the small oilers and Heritage for fiscal changes.. If everyone just drill then oilproduction would Rise, hence No incitament to do the changes.. PB told me, that they were waiting for the government to easy the terms, before they decide to do drilling.. And it's not completely true that you offset it by drilling, you actually just move it forward as debt, hence we saw a great reduction in debt because we didnt drill. But I get your point.. Best Thing for us would be to focus on gas, and if coho proves to be succesful, then we have 3 follow ups with deeper pay, but more riskier than coho.. But as he said, multiple follow ups All over the prospect if succesful and it will be milions of barrels equivlant. We would most like be either bought out or farmed out to Heritage or another big fish down there.

There is definitely a short term trade also for the impatient. The first 2 95% COS wells will have a huge impact on SP. If both are successful I will put a conservative SP of 45p. Not just because of the increased production but it validates the entire block which is the key to these drills. If Royston is successful and the size thet think it is then were talking silly figures.

He didn't go into that much detail. You can just tell that this year is the turning point at TXP.
A few other exciting parts. If Oritore is successful they are several other prospects which they can apply their knowledge and understanding too. We could see lots more exploration.
The medium to long investment here could be literally off the chart. The minor bip in the latest RNS will seem insignificant soon.

And he had a great answer. If all goes well at Oritore he could see 10000bopd with 3 rigs running continually.
He was very excited about the relationship with Heritage, sounds like that could open a lot of doors for us.
Shame the video was poor quality, I failed to hear quite a bit.

All things considered, a very good day. Everyone sees the value of Oritore. That why it was bought into heavily on the dip. Just a waiting game now.

Nice buy!

Really hope we see some decent director buys now the Q1 results are out.
Would serve as a great vote of confidence.

Instead of "should the company have success at Ortoire"
It should read
"when the company have success at Ortoire" :)

Nice to see some new posters today.
Indeed this is a great value buy in.
I love the fact that they are back to back drills.
This will create a lot of buzz around the share and really drive SP.
The good thing about the 1st and 3rd drill is that they are gas plays so and not subject to SPT tax.
The 1st drill is very very low cost to get on line, only $1mil

Not the best RNS we could have hoped for.
I like that they have reduced some debt.
Ortoire is the big prize and were fully funded for that, so its a hold and accumulate at these prices.

45 posts in a day. That must be a TXP record. Things are certainly heating up

This is my favorite bit.
Any two success combination would be off the chart really.
Considering 2 are 95% COS then it's off the chart we go.

Conclusion from article:
The key remains that these 3 upcoming drilling wells are each twinned with previous drilled discoveries which should make them relatively ‘lower risk’ compared to pure exploration drilling. To varying degrees, each single well could transform Touchstone from a little known small ‘also ran’ operator into something much larger. Any two success combination would be off the chart really. This also comes for a small capital outlay on each well and with access to nearby infrastructure, a rapid monetization and cash flow route is available. This is a very rare combination of positive factors in our view. For investors owning the shares at this price, there ought to be relatively low downside medium-term risk. The currently-producing assets cover more than the current valuation, in our view, whilst the upside success case could be a multiple of the current share price.

Forget the 2p rise in a day. I'm waiting out for the 20p rise in a day ;)

Agreed, he is very subtle in his PR speak.
But he always delivers which is good enough for me.
Once we spud and new investors see the potential it's show time.
Regarding SP the skys the limit really.
30p on successful 1st well.
50p on second
I know this sounds rampy but if Royston is successful, 100p wouldn't be out of the question if it is what they think it is. Similar size to Carapal ridge.